Report on the Buyback of Company Shares for Equity Incentives

Important Notice:

1. Shenzhen Fangfang Technology Group Co., Ltd. (hereinafter referred to as "the Company") plans to repurchase a portion of its publicly held shares for the implementation of the equity incentive plan. The number of shares to be repurchased will not be less than 6 million shares and not exceed 10.5 million shares, accounting for 1.62% to 2.83% of the company's total equity. The specific number of shares and the proportion of shares repurchased will be determined based on the actual situation. The buyback plan is expected to be completed within 12 months from the date of approval.

2. This buyback plan has been approved by the Company's 11th session of the 12th board meeting held on March 30, 2026.

3. The Company has opened a dedicated securities account for the repurchase of shares.

I. Purpose of the Share Buyback

Based on the confidence in the Company's future development and the high recognition of the Company's value, combined with the Company's operating conditions, business development prospects, financial status, and future profitability, the Company intends to repurchase shares to implement the equity incentive plan, promote the establishment of a healthy incentive mechanism, ensure the realization of long-term operational goals, and enhance the overall value of the Company.

II. Conditions for the Share Buyback

The Company's share buyback plan complies with the relevant provisions of the "Share Buyback Guidelines":

1. The Company has been listed for more than six months.

2. The Company has not committed any major legal violations in the past year.

3. The Company has sufficient debt repayment ability and sustainable operating capability.

4. After the buyback, the Company’s shareholding structure should comply with the relevant regulations and economic conditions.

5. The China Securities Regulatory Commission and the Shenzhen Stock Exchange have approved the relevant conditions.